There were 19 PPP loans issued in Alabama during the week ending July 5. The average loan size in the state was between $350,000 to 1 million.
There are approximately five million approved PPP loans with a total of $517,451,965,102 set aside for funding, according to the Small Business Administration. The average loan size was around $105,000 with over 5,000 lenders currently participating in the program.
The program was slow to get off the ground when it was crushed by an onslaught of would-be applicants. Another major criticism of the program pertained to who was receiving the loans. A program that was meant for small businesses witnessed the Los Angeles Lakers receive $4.6 million from the program. The Lakers qualified for the program under the rules as written but returned the funds according to a Laker’s statement provided to news outlets.
| Recipients | Date Received | Dollar Amount Received |
|---|---|---|
| Central North Alabama Health Services | 2020-06-29 | $1-2 million |
| Jefferson County Racing Association, Inc. | 2020-06-29 | $350,000-1 million |
| Stresscrete, Inc. | 2020-06-29 | $350,000-1 million |
| Tennessee Valley Supply Company, I | 2020-06-29 | $350,000-1 million |
| MA-Chis Lcite, Inc. | 2020-06-29 | $150,000-350,000 |
| National Retail Corporation | 2020-06-29 | $150,000-350,000 |
| Southland Precision, Inc. | 2020-06-29 | $150,000-350,000 |
| KC Economic Development, LLC | 2020-06-30 | $1-2 million |
| Vestavia Hills, Ltd. | 2020-06-30 | $1-2 million |
| Capital Motor Lines, Inc. | 2020-06-30 | $350,000-1 million |
| Centex Solutions, Inc. | 2020-06-30 | $350,000-1 million |
| HBF Tampa Partners JV, LLC | 2020-06-30 | $350,000-1 million |
| Twelve Twelve Twelve, LLC | 2020-06-30 | $350,000-1 million |
| ZMCF, LLC | 2020-06-30 | $350,000-1 million |
| C & K Transportation, LLC | 2020-06-30 | $150,000-350,000 |
| Colonial Trailways | 2020-06-30 | $150,000-350,000 |
| CSR Hospitality | 2020-06-30 | $150,000-350,000 |
| Little Caesars | 2020-06-30 | $150,000-350,000 |
| Therapeutic Resources, Inc. | 2020-06-30 | $150,000-350,000 |
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